After watching the markets roar back for a 5% swing in the NYSE, morning gains were lost as investors failed to keep the rally moving. Consumer stocks are receiving the blame as they lagged the market while Energy stocks outperformed.

Today’s action isn’t exactly what you want to see after such a strong move. The pullback off highs shows supply in the market that is significant due to the amount of volume along with the move.

I don’t expect this to be a top without further weakness, but this is a red flag of caution for those in long positions.